Congress outlawed tax deductions on “wash sales” in 1921, but Goldman Sachs and others have helped billionaires like Steve Ballmer see huge tax savings by selling stocks for a loss and then replacing them with nearly identical investments.
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The Left and its allies must defeat the rats in the battle to preserve democracy and human rights. Separately, we must prevent the Mouse and other corporate vermin from fattening themselves on the public’s cheese.
In addition to the unusual mass arbitration Intuit is fighting, federal regulators and state prosecutors are still investigating the company, which made $2 billion dollars last year.
Jesse Eisinger, Paul Kiel and Jeff Ernsthausen
ProPublica
Phyllis Taylor’s company is responsible for the longest-running oil spill in U.S. history. That’s been a disaster for the Gulf of Mexico — but a tax bonanza for Taylor.
This reconciliation bill is being opposed by every Republican in Congress as well as the drug companies, the insurance companies, the fossil fuel industry and the billionaire class. They want to maintain the status quo in which the rich get richer.
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